JBL buys Flamingo Pines Plaza in Pembroke Pines, FL

Published at: 2017-12-22 15:34 | Author: CIJ USA

The Flamingo Pines Plaza in Pembroke Pines, FL has been sold to JBL Asset Management in a $33.2 million deal. The 139,462 square foot community shopping center is located at at the intersection of Pines Boulevard and Flamingo Road. Trading for $238 per sqf., the center is currently 99 percent leased with anchor tenants including Florida Technical College, USPS, Goodwill, Mattress Firm, Honey Baked Ham, State Farm and Sunrise Medical Group. The Hollywood-based buyer completed the purchase with a $27.25 million mortgage provided by Regions Bank. Holliday Fenoglio Fowler's Eric Williams represented the seller, Weingarten Realty Investors.

“Pembroke Pines’ population density, growth and affluence make it one of the most highly coveted retail submarkets in South Florida,” Williams said. “Flamingo Pines Plaza’s prime location at the heart of the Pines Boulevard retail corridor adjacent to a high-volume Publix and Walmart Supercenter was attractive to investors.”